Uber's Visa Credit Card Is Going Hard After Millennials

Many are the stories about controversial moves by Uber; from the worldwide "bans" to the reports of a toxic corporate culture that eventually led to the ouster of the company's former CEO, Travis Kalanick. People still vote with their dollars, though, and Uber's business is thriving. The company's latest offering will likely add to that, as Uber just announced the launch of its own credit card—and its perks are surprisingly good.

The Uber Visa Card is geared toward people who use the rideshare service often, but based on its features, it also looks to be targeting people who spend plenty on dining and travel. Millennials, take note. The card offers:

No annual fee

No foreign transaction fees

Four percent back on dining

Three percent back on hotels and airfare

Two percent back on all online purchases

One percent back on everything else

As Uber's own announcement says, the card offers seamless integration into the Uber app, allowing you to instantly redeem your points for Uber credits or cash back. One surprise: Uber rides count as online purchases, and thus earn just two percent back. Additional perks include mobile phone insurance (often $10-$12 per month through wireless providers) up to $600 for damage or theft, access to exclusive events, and a $50 subscription credit for services like Spotify or Netflix after you spend $5,000 on the card in a 12-month period.

Compared to the best travel credit card on the market right now, the Chase Sapphire Reserve, Uber's credit card doesn't offer quite the same travel perks and protections, but does excel in many of the categories Millennials care about, i.e. Netflix, dining out, and shopping online. It lacks the lounge access, trip and baggage insurance, and ability to transfer to partners—which can net you a real windfall in terms of redemptions. But the Uber Visa Card earns four percent back on dining, compared to the Sapphire Reserve's three percent, and they both earn three percent on hotels and airfare.

Additionally, both cards lack foreign transaction fees, which can save you as much as three percent on purchases when you're abroad—and you're not paying any annual fee on the Uber Visa, so really, it's all upside with no investment required.

The Uber Visa card will be available beginning November 2, 2017—and if you like jaunting about town and traveling, it's a decent choice for your wallet.